Point72 Asset Management L.P. Takes $3.69 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Asset Management L.P. purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 57,502 shares of the company's stock, valued at approximately $3,690,000.

Several other hedge funds have also recently modified their holdings of EDU. GeoWealth Management LLC grew its holdings in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after acquiring an additional 318 shares during the period. Westpac Banking Corp acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $45,000. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $51,000. Natixis increased its holdings in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $113,000.

New Oriental Education & Technology Group Stock Performance

EDU stock traded down $0.49 on Monday, reaching $46.47. The company had a trading volume of 562,219 shares, compared to its average volume of 1,778,187. The company's fifty day moving average is $46.80 and its 200 day moving average is $52.64. The company has a market cap of $7.89 billion, a P/E ratio of 19.77 and a beta of 0.25. New Oriental Education & Technology Group Inc. has a 1 year low of $40.66 and a 1 year high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm's revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EDU. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. China Renaissance cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. reduced their price objective on New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.80.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.